Fireside Alpha(@firesidealpha):Seagate's CEO Dave Mosley says the neoclouds he once wrote off as pure GPU shops are now buying hard drives too, because as they mature they want their data sitting next to their compute instead of renting it back from a hyperscaler. "Two years ago, I would have said neocloud is probably largely compute-based, but we're starting to see that even some of the largest neoclouds, they need a lot of data coming at them." "And where did they get that data in the past? They might have got that from traditional hyperscalers, but there are some places where neoclouds are saying, I need instances close to me." "By the way, I do not think that's necessarily competitive with the hyperscalers."

2026.07.29 05:24

Seagate's CEO Dave Mosley says the neoclouds he once wrote off as pure GPU shops are now buying hard drives too, because as they mature they want their data sitting next to their compute instead of renting it back from a hyperscaler. "Two years ago, I would have said neocloud is probably largely compute-based, but we're starting to see that even some of the largest neoclouds, they need a lot of data coming at them." "And where did they get that data in the past? They might have got that from traditional hyperscalers, but there are some places where neoclouds are saying, I need instances close to me." "By the way, I do not think that's necessarily competitive with the hyperscalers."